collection letter from Portfolio Recovery
Date: Mon, 05/01/2006 - 04:42
I received a letter from Portfolio Recovery Assoc claiming that I owe $7,290 for a Chevy Chase acct. To the best of my knowledge, I believe the statute of limitations has ran out on this debt from 1994. What do I do? Can they add this information to my credit report?
Hi dlwilmot The mentioned account took place long time back.
Hi dlwilmot
The mentioned account took place long time back. At this point, this account should not appear in your credit file even if it is delinquent. The SOL period is calculated from the date of last activity when you made the payment. This account is also past the 7 years period as per the FCRA laws.
Check your credit report and see if the company has tried to hit it in your file. Send a letter in writing mentioning your point and request them to stop collections. The company will go against the FCRA laws if they try to report the account in your file. Make sure that you have not made any payment within the recent years.
